"Why do I keep losing my mortgage?" - "Learn to register young man learn to register!

With just a couple of weeks to go until we decide whether we leave or remain, it is important that you register on the voter's role especially if you are looking to get a mortgage. Failing to do so may have greater consequences than not being able to stick a cross over Boris' noggin.

Failing to register to vote will put a kibosh on that mortgage application. These days lenders who are lending at a loan to value of 90%+ are fixated with establishing your adress through your right to vote, ensuring that you have a credit history at that address and finally that there are no blips in that credit. Fail to register and you are putting the mortgage at jeopardy. These days lenders have to have visiblity of you being on the voters role. They take it as the holy grail in establishing where you stay. Bottom line is if you are looking at a high loan to value in the 90s and are not registered then you'll need to keep renting.

But here is the real kicker!

Most of the lenders look at credit reports and if you only realise late on in the mortgage process that you are not registered then you have a problem. Even if you register and get proof from the local authority, it will take the credit report companies months to update their records. And if you think that the lenders will take a letter from the authorities confirming the position then think again. These days the lenders are rarely prepared to do any gunt work and look behind what is in a credit report.

So the moral here is irrespective of whether you think "Nigel is a moron!" or are happy to tick Dodgy Dave's box, you need to get registered if you want to get that mortgage.